Leveraging Open Innovation through Social Media: A Study on Geneva-based SMEs

Angela Bacchetta Beckh, Mathias Beck, Patrick-Yves Badillo, Anne-Laure Mention and Marko Torkkeli

Chapter 18 in Managing Digital Open Innovation, 2020, pp 493-553 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Open innovation seems to be practiced mostly by large organizations as they are perceived to better leverage substantial external information sources such as digital data flows. Within open innovation research, initial analysis focused on multinationals; small- and medium-sized enterprises (SMEs) were underresearched. Although there is a common perception that open innovation suits mostly multinationals, this research emphasizes the importance and benefits of open innovation adoption by SMEs through Social Media. This chapter explores quantitative and qualitative information from 360 firms in the Geneva region concerning the innovation potential of digital tools. The results demonstrate the perceived importance of social media as a source of open innovation within the Swiss SME landscape. Researching how Swiss SMEs can benefit from social media for open innovation could be relevant for both practitioners and policy makers as the importance of a digital strategy comprising data processing capabilities needs to be emphasized.

Keywords: Open Innovation; Digital Disruption; Industry 4.0; Data-Driven Decision; Value Networks; Organizational Agility; Digital Design; Collaboration; Innovation Policy; Social Media; Open Strategy (search for similar items in EconPapers)
JEL-codes: O31 O32 (search for similar items in EconPapers)
Date: 2020
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